The AlphaMind Podcast #156: You Can Make a Fortune Trading - Don't Let Anyone Tell You Otherwise - With Matt “Pax” Kenah
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Mar 10, 2026 Matt "Pax" Kenah, former Chicago floor trader turned educator, shares hard-earned market wisdom. He discusses why fortunes in trading are still possible, the psychological and structural traps that make most fail, and how to treat trading like a business with strict risk controls and routines. He also covers recovery after big losses and when to step away for health and longevity.
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From Seminary To Millionaire Trader
- Kenah left seminary training and became a trader, rising from $89/week clerk to making his first million by 1999.
- He describes floor life, learning hand signals, rapid wage increases and seminary studies in theology and philosophy.
Trade Less And Focus On High Conviction
- Trade less to make more: limit round-turns per day and focus on high-conviction setups you can execute well.
- Kenah typically stops trading about 10 minutes after the open and says >5–10 trades often means losses.
Outlier Fortunes Are Often Time Limited
- Many outlier fortunes come from exploiting a narrow edge for a limited time, then shifting to preservation or investing.
- Kenah cites Takashi Kotegawa as an example who amassed wealth then largely stopped active trading.